During the week ending March 2, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $790-810/mt FOB, moving sideways compared to February 23, while export offers for API 5L seamless pipe given by Chinese suppliers are at $840-870/mt FOB, May shipment, remaining stable compared to February 23.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
855 |
0 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
895 |
0 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,105 |
0 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
800 |
0 |
During the given week, steel pipe prices have moved sideways following the Winter Olympics as production restrictions were eased to some degree, while demand has remained at relatively low levels. Due to the Paralympic Games in March, production restriction measures will again be stricter in the near future, which will bolster steel pipe prices to some extent. It is expected that steel pipe prices in the Chinese domestic market will move up in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,860/mt ($768/mt) on March 2, up by RMB 71/mt ($11.2/mt), or 1.5 percent compared to February 23, while up by 1.76 percent compared to the previous trading day, March 1.
$1 = RMB 6.3351
